NATR · Nature's Sunshine Products, Inc.

Nature's Sunshine Products delivered strong Q1 2026 results, with net sales rising 9% to $122.9 million, driven by 7% constant currency growth across all regions, led by 9.1% in North America. Gross margin expanded 116 basis points to 73.2% due to cost savings, favorable market mix, and foreign exchange. Volume incentives improved to 30.0% of sales from 30.8%, reflecting optimized promotions and pricing. SG&A as a percentage of sales dipped to 35.4% from 35.8%, aided by lower professional fees and digital marketing spend. Operating income doubled to 7.8% of sales, though offset by $1.4 million foreign exchange losses. CEO Ken Romanzi highlighted momentum in consumer acquisition, digital scaling, auto-ship programs, and Vision for Growth strategy. Balance sheet remains solid with $87.6 million cash and zero debt; share repurchases of 20,000 shares signal confidence. Full-year guidance of $500-515 million sales and $50-54 million adjusted EBITDA supports sustained growth. Shareholder meeting approved the 2026 Stock Incentive Plan (1.5 million shares reserved) despite close vote (For 6.4M vs Against 5.7M), enabling equity incentives for employees, officers, and directors to align with shareholders. All directors elected overwhelmingly, executive comp approved advisory, and Deloitte ratified, ensuring governance continuity.